US tariff hike may impact Indian Pharma industry
New Delhi: The US government's proposed 25% tariff on imports of automobiles, semiconductors, and pharmaceuticals could have significant repercussions for India's pharmaceutical industry, which heavily depends on exports to the American market.
While India's semiconductor sector is still developing and is expected to see minimal impact, the new tariffs could pose challenges for drug manufacturers. The US is the largest market for Indian pharmaceutical exports, accounting for $8.73 billion in FY24, or 31% of the industry’s total exports, according to the Pharmaceuticals Export Promotion Council of India (Pharmexcil).
Leading Indian pharma companies such as Sun Pharma, Dr. Reddy’s, and Cipla derive a substantial portion of their revenue from the US market. In fiscal 2024, North America contributed 47% of Dr. Reddy’s total sales, 32% of Sun Pharma’s revenue, and 30% of Cipla’s earnings.
Pharmexcil’s director-general Raja Bhanu highlighted that Indian firms play a crucial role in the US pharmaceutical supply chain, supplying four out of every ten prescriptions filled in the country. However, Pharmexcil chairman Namit Joshi downplayed concerns, stating that the competitiveness of Indian generic drug exports would help mitigate the impact of any tariff hikes.
Currently, Indian pharmaceutical imports into the US are not subject to import duties. The proposed tariffs, if implemented, could alter the cost dynamics of the industry and affect profit margins for Indian drugmakers.
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Class 8 student stabs, injures classmate outside Gujarat school
Balasinor (Guj), Aug 22 (PTI): A Class 8 student stabbed and injured his classmate over a dispute outside a school in Gujarat's Mahisagar district, police said on Friday.
The incident has come days after a Class 10 student was killed in a similar attack outside a private school in Ahmedabad.
A Class 8 student attacked his classmate using a sharp object after school hours on Thursday near the gate of a government-run primary school in Balasinor town, an official said.
Superintendent of Police Jaydeepsinh Jadeja said, "Based on a complaint given by the victim's father, we have registered an FIR against the accused juvenile. The victim is currently undergoing treatment at a hospital, and his condition is stable."
Balasinor police on Friday registered a case against the accused teen under sections 115 (voluntarily causing hurt) and 118 (voluntarily causing hurt or grievous hurt by dangerous weapons or harmful means) of the Bharatiya Nyaya Sanhita, he said.
According to the injured boy's father, his son was attacked over a trivial issue.
"My son's classmate got angry over some minor issue and stabbed him with a small knife. My son sustained stab wounds on his back, abdomen, and near his shoulder," the victim's father said.
On Tuesday, a boy studying in Class 10 was stabbed to death, allegedly by a fellow student, near the main gate of the Seventh Day Adventist School located in the Khokhra area of Ahmedabad.
The victim died during treatment later that night.
